Host Hotels & Resorts Committed to Reducing Its Carbon Footprint
May. 27 2021
Jim Risoleo, president and CEO of Host Hotels & Resorts, Inc. (Nasdaq: HST) and Nareit chair, participated in a video interview in conjunction with Nareit’s REITweek: 2021 Investor Conference.
Risoleo said Host Hotels was “beyond delighted” about its recent acquisition of the Disney World Four Seasons, which continues the REIT’s quest to upgrade the overall quality of its portfolio.
“It will be the No. 1 asset in our portfolio if you look at RevPAR and total RevPAR relative to the other assets we own, with a total RevPAR of $923 in 2019 and RevPAR of $561,” Risoleo said. “It is truly an irreplaceable asset.”
Coming out of the pandemic, Risoleo said the biggest opportunity for the lodging and resorts sector is the ability to start from scratch and redefine the operating model. Moving forward, he said it’s evident that one size doesn’t necessarily fit all when it comes to brand standards.
“The brands are really showing a lot of flexibility as we work through what we need and what we don’t need,” he said.
Turning to his position as Nareit’s Chair, Risoleo said he believes REITs can play a big role in the ESG space.
“REITs own real estate, and buildings produce almost 40% of global emissions,” he said. “We at Host have been a leader when it comes to sustainability efforts…we’re really focused on reducing the carbon footprint of the company.”
Watch more video interviews from Nareit’s REITweek: 2021 Investor Conference